A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

Price structure - LR's Mid & Long - PA - Change of Direction

This is for Sun and all other followers

I have chosen the EA as the example - to clarify the Lrs - and also the clues you look for etc etc

I will post the charts first and then explain each one in detail later

This first chart is up to the London Open at 8 00 am

Its shows a clear bull price structure over the Asian session and early Am

Notice the Lrs - long one under price and the proper traffic light sequence on the red yellow green

The second chart shows the start of the change after LO

Time is major in intraday trading as well as S & R levels

We are still in a bullish price structure above the Trendlines and the long dotted Lrs

But notice the change in PA and the mid red / yellow / green LR positioning

Next last chart and I have shown the 2 critical S & R levels marked as green and red

Price as dropped over 80 pips from its high and over 65 pips from after LO

Notice the new LR structure now as well

I will post another chart later as well

 

[sun11]

Back now,
Thank you for the charts.

Is the mid Red Lr is 60?
So far what I am seeing is market goes below the red line, sell & above buy along with faster lr crosses.

On the 3rd chart where you marked the circle for Lr bias change, at 8:00am entry. Where did you close that trade? When price touched longer LR the red green dotted line?

You enter sell position at 9:10, break on a TD & price below redline.
I understand it. Where did you close this trade when it hit the second TD?

Generally If it was me, then i would buy from that 2nd TD on longer LR 4830 & target 4890. But in this case i can see if I would do that, it would fail me to reach exact target but at least made me 10+ pips.

Why you didn't bought from longer LR? Seeing the head & shoulder pattern?

Too many questions...required answers...But when ever you get time..;-))
Regards

 

[Forexmospherian]

Back now,
Thank you for the charts.

Is the mid Red Lr is 60?
So far what I am seeing is market goes below the red line, sell & above buy along with faster lr crosses.

On the 3rd chart where you marked the circle for Lr bias change, at 8:00am entry. Where did you close that trade? When price touched longer LR the red green dotted line?

You enter sell position at 9:10, break on a TD & price below redline.
I understand it. Where did you close this trade when it hit the second TD?

Generally If it was me, then i would buy from that 2nd TD on longer LR 4830 & target 4890. But in this case i can see if I would do that, it would fail me to reach exact target but at least made me 10+ pips.

Why you didn't bought from longer LR? Seeing the head & shoulder pattern?

Too many questions...required answers...But when ever you get time..;-))
Regards

I can answer them later - but first I want you to understand price structure - Time and change

Going to post next part on EA along with more explanations

Regards

 

[Forexmospherian]

EA - Fourth Chart as at 11 30 am - explaining the change

This is for Sun and all other followers

I have chosen the EA as the example - to clarify the Lrs - and also the clues you look for etc etc

I will post the charts first and then explain each one in detail later

This first chart is up to the London Open at 8 00 am

Its shows a clear bull price structure over the Asian session and early Am

Notice the Lrs - long one under price and the proper traffic light sequence on the red yellow green

The second chart shows the start of the change after LO

Time is major in intraday trading as well as S & R levels

We are still in a bullish price structure above the Trendlines and the long dotted Lrs

But notice the change in PA and the mid red / yellow / green LR positioning

Next last chart and I have shown the 2 critical S & R levels marked as green and red

Price as dropped over 80 pips from its high and over 65 pips from after LO

Notice the new LR structure now as well

I will post another chart later as well

EA

11 48am

Now we go on to part four

This chart shows from last night right up to 11 30 am

In incorporates the other 3 charts - all are 1 min frames

Can you see the clear bull structure for Asian session and the LiTs area last night - ie cross over of longer LRs

Now can you spot the one after 8 00 am and London Open today

So you buy and see a 160 pip rise from yesterday

Then you sell after 8 00 am and see a 110 pip fall so far

With regards to all the scalps in between - yes loads of them - but this is based on bias of price structure and Time and mid and longer LRs

Note the 3 mid range Lrs are red / yellow / green on way up and then reverse on way down

 

[Forexmospherian]

EA - Midday Update

I am staying with the EA today to try and explain more to Sun

So far the low as around 4772 around 12 08 pm

I am going to show some tick charts based on the times posted on the 1 min chart on sells

There was buys in between - and a scalp buy after 12 09 pm would have made you 12 -14 pips so far - but we are still in a bear bias - and we need first a low holding over 30 + mins to even consider holding any scalp buys above 4775

Heres the tick chart sells - there as been lots but only showing 2

Next one from the start pre LO

 

[Forexmospherian]

I am staying with the EA today to try and explain more to Sun

So far the low as around 4772 around 12 08 pm

I am going to show some tick charts based on the times posted on the 1 min chart on sells

There was buys in between - and a scalp buy after 12 09 pm would have made you 12 -14 pips so far - but we are still in a bear bias - and we need first a low holding over 30 + mins to even consider holding any scalp buys above 4775

4772 as held for now

So either a partial off a scalp buy after 12 09 pm or another scalp buy at say 12 21pm - would have made you 30 pips

We now need to stay above 4780/2 to look at more scalp buys

 

[sun11]

I am looking at the current EA chart.
4806 a resistance, i mean it's a previous top. But It broke a longer TD up side from 4891, so that means still not a time to sell..
If it needs to buy then where to buy in a running uptrend.

 

[sun11]

I am looking at the current EA chart.
4806 a resistance, i mean it's a previous top. But It broke a longer TD up side from 4891, so that means still not a time to sell..
If it needs to buy then where to buy in a running uptrend.

Ok bought at 4819 & closed at 4825, 4828 was a previous top.

 

[Forexmospherian]

I am looking at the current EA chart.
4806 a resistance, i mean it's a previous top. But It broke a longer TD up side from 4891, so that means still not a time to sell..
If it needs to buy then where to buy in a running uptrend.

Hi Sun

Did you get the 2 00 pm buy on EA

 

[sun11]

Ok bought at 4819 & closed at 4825, 4828 was a previous top.

I closed early made upto 4845.

 

[Forexmospherian]

Hi Sun

Did you get the 2 00 pm buy on EA

This is the view after 2 30 pm - still a buy - up 40 pips from your r area Sun

 

[sun11]

Hi Sun

Did you get the 2 00 pm buy on EA

I got EA buy trade but 28 minute late. So earned 7 pips.
Later I sold position from 4839 at 14:35 & closed it at 4834. But market moved more further than that.

 

[Forexmospherian]

I got EA buy trade but 28 minute late. So earned 7 pips.
Later I sold position from 4839 at 14:35 & closed it at 4834. But market moved more further than that.

Hi Sun
What's your P & L today like

Are you positive ??

Where to sell EA next ?

if we dont go over 4855 then look at scalp selling and if under 4800 stay with it

 

[sun11]

I got EA buy trade but 28 minute late. So earned 7 pips.
Later I sold position from 4839 at 14:35 & closed it at 4834. But market moved more further than that.

Another buy I took from 4835 at 14:41 near to the TD but closed at 4839, shame..
it rising now.

 

[sun11]

Hi Sun
What's your P & L today like

Are you positive ??

Where to sell EA next ?

if we dont go over 4155 then look at scalp selling and if under 4100 stay with it

Very bad I missed your caution post.
I bought from 4848 & lost 9 pips.
Now daily pl is +8.

 

[sun11]

Very bad I missed your caution post.
I bought from 4848 & lost 9 pips.
Now daily pl is +8.

Made 5 pips again from 4834 sell.
Now STOP. daily pl 13 pips.

 

[Forexmospherian]

Made 5 pips again from 4834 sell.
Now STOP. daily pl 13 pips.

GOOD

You are doing too many scalps too close together - revenge trading etc

 

[Forexmospherian]

Sun

The EA is really like the GJ and GA - all beasts

Therefore really you need to full understand the price action and price structures to scalp them successfully

Now from say 4800 / 10 to 4855 -is all a range that could go BTTZ

I will now post in a bit the EA for the whole day - and then you can see what is next from the PS

 

[sun11]

GOOD

You are doing too many scalps too close together - revenge trading etc

I will take a short break...to control my craving..
but in generally speaking, that sell trade on EA I closed at 4826 but it moved actually 4817. So missed many pips in this EA journey.

Regards

 

[Forexmospherian]

EA - update for session at 3 00 pm

EA

Here's the whole picture for the day up to now - 3 00 pm

The 2 red lines are last scalp buy from approx 2 00 pm and main R area that we should need to see breached to carry on buying

The real range now is over 120 pips and we could stay in that range for next 12 hrs even - hopefully we break out of it - but the best bits over I reckon today